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Recorded Webinar: TEA's Group Captive Health Insurance Plan
Learn how you can gain most of the advantages of self-funding—but with reduced risk—by participating in The ESOP Association's Group Captive Health Insurance Plan.
Video & Sub Text
This plan makes it possible to support employees’ physical and financial health at the same time. These goals are important to any well-run business and are vital for ESOP companies, which are bound to operate in the best interests of their shareholders—the employee owners. This insurance plan does that, ensuring quality care—often by allowing companies to retain their existing health care provider—at significantly lower rates. That translates to good health for employees and a healthy bottom line for your ESOP.
Who is Eligible?
All of our corporate members with 5+ employees are eligible.
Professional Member Companies
Professional member companies with at least 5 ESOP Association members in good standing, or at least 50% of their professional employees as ESOP Association Members are eligible.
Already Have an Insurance Broker?
No problem! We can work with you and your current broker. For more information please reach out to TEACaptive@fredcchurch.com.
How Does it Work?
By joining a pool of ESOP Association members, you gain expanded purchasing power that offers the following benefits:
- Significantly lower fixed costs compared to fully insured or self-insured plans.
- Savings on variable plan costs that average 85%, compared to 0% for fully insured plans.
- Greater plan design flexibility, giving you more options to create a plan that meets your employee owners’ needs.
- More transparency on health costs and drivers, and suggestions that can help your company gain greater control of long-term health care expenses.
- Reduced risks distributed over a pool of people that is larger than one smaller company can provide.
Which Companies Stand to Benefit Most?
Every company may benefit from participating. Larger, self-funded organizations can gain greater cost containment and plan management flexibility. Smaller companies—those with 5-1,000 employees—typically have even more to gain because they are able to reap most of the benefits of being self-funded while reducing the potential costs for catastrophic health events.
Benefits are tailored to companies in two categories, based on company size. For a more detailed explanation of these benefits, download this document.
|Benefits||Companies with 5 - 20 Employees||Companies with 20+ Employees|
|Underwriting in Minutes||✓|
|Standard ERISA Plan Document||✓||✓|
|Savings Up to 85 Cents on the Dollar||✓||✓|
|Monthly Claims Reporting Available||✓||✓|
|Access to Multiple Plans||✓||✓|
|Cost Containment Vendor Flexibility||✓||✓|
|Access to Multiple Networks||✓|
Ready to launch your journey toward high-quality healthcare at affordable rates? Start by reviewing these documents, which show the information needed to submit an application for companies that are fully insured and self funded. Then click the appropriate button below to get started.
✉ Questions about this program? Email TEACaptive@fredcchurch.com
✉ Questions about your membership? Contact membership@ESOPAssociation.org.